FLASHNEWS:

Nestle Pakistan Achieves Significant Growth and Sustainability Milestones in 2023

Lahore, Nestle Pakistan has reported a commendable increase of 23.4% in its revenue for the fiscal year 2023 compared to the previous year, showcasing a robust performance despite facing numerous external challenges. The announcement came following the Board of Directors' meeting held at the company's Head Office.

According to Nestle Pakistan Limited, the company's successful revenue growth can be attributed to a strategic emphasis on innovation, renovation, and ensuring product availability, alongside significant investments in brand development. This growth was broad-based across Nestle Pakistan's diverse product portfolio, indicating a strong market presence and consumer trust in the brand. Additionally, the company's operating profit saw an improvement, driven by a focus on the localization of raw and packaging materials, expansion of exports to 18 countries, and tighter control over fixed costs.

Employee welfare and development also remained a priority for Nestle Pakistan throughout 2023. The company implemented several programs aimed at inspiring, empowering, and developing its workforce, which resulted in the percentage of female leaders increasing to 23.4% in 2023, up from 18% in 2022. These initiatives underscore Nestle Pakistan's commitment to diversity, equity, and inclusion in the workplace.

Marking its 35th year of operations in Pakistan in 2023, Nestle Pakistan continued to invest in the country, with a focus on sustainability projects totaling PKR 3.2 billion. Notably, PKR 2 billion of this investment was allocated to renewable energy projects, highlighting the company's commitment to environmental stewardship. Nestle Pakistan also achieved all of its sustainability targets for the year, including reductions in greenhouse gas emissions, advancements in sustainable packaging, water regeneration, and the management of over 2,600 tons of plastic waste through the Clean Gilgit-Baltistan Project. Furthermore, the inauguration of a 7th clean, safe drinking water facility demonstrated the company's ongoing efforts in providing essential services to the community.

The company's Nestle for Healthier Kids (N4HK) program expanded its reach to over 360,000 children and 2,300 teachers nationwide. Additionally, in collaboration with the Benazir Income Support Program (BISP), Nestle Pakistan increased the enrollment of rural women sales agents to 3,000, empowering women and contributing to rural development. Corporate donations were made to several organizations, including Akhuwat, Pakistan Red Crescent Society, and SOS Villages, showcasing Nestle Pakistan's commitment to corporate social responsibility.

Looking ahead to 2024, Nestle Pakistan maintains a cautiously optimistic outlook, despite the ongoing challenges related to input costs. The company is dedicated to continuing its focus on resilience and making significant contributions to the national economy.